In 2021, we expanded our reporting for the first time by including the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). The initiative, launched by the Financial Stability Board (FSB) following the adoption of the Paris Climate Agreement, has drafted a cross-industry, international framework for the disclosure of climate-related risks and opportunities. Its purpose is to increase awareness of the financial impacts of climate change in order to guide investments in sustainable solutions and business models. The TCFD promotes the disclosure by businesses of information on climate-related opportunities and risks. It requires companies to account for how they are structured in the areas of governance, strategy, risk management through the use of metrics and targets in order to take advantage of significant climate-related opportunities and to reduce climate-related risks. In doing so, companies are required to take into account not only how their business activities affect climate change, but also how climate change is affecting companies. A content summary can be found in the TCFD index.
The TCFD recommendations for substantiated finance-related climate reporting were published in June 2017. By including the TCFD recommendations in our reporting for the first time, we are continuing to provide transparent reporting on climate protection and in addition provide our stakeholders with a better understanding to what extent our business is affected by climate change and the implications we derive from this.
We have also decided to become a TCFD supporter. For us, this is a clear commitment to transparent climate reporting as part of our climate-protection efforts and climate-resilience management.